The Financial Answer Center provides customers with immediate answers to hundreds of financial questions and enables customers to download extensive Quick Guides to over 30 broad categories of information to help manage their financial life. Topics range from investments, retirement planning, cash and debt management, running a small business, planning for college and more. The Financial Answer Center is easily accessible and free to download from PremierWest Bank’s home page.
“PremierWest strives to be an all encompassing financial resource for our customers, and the Financial Answer Center gives our customers access to information on hundreds of topics,” says Ken Wells, EVP of PremierWest Bank. “If they desire to go deeper into a subject, a few clicks will direct them to a bank representative based in their area with extensive knowledge about the subject.”
This library of financial knowledge was developed by a team of financial and educational content experts from Truebridge. Stewart Rose, President of Truebridge, describes PremierWest as a forward-looking bank, one that “understands what it means to build meaningful customer relationships in part by providing the educational information customers want.”
Wells says PremierWest was looking for a competitive edge, and saw an opportunity with financial education. “Community bank marketers need a bigger tool belt,” he says. “We’ve historically focused on products and margin, each of us looking for new features to serve as a hook for differentiation. But at a time of continued rate compression, community bank products seem to look all the same. If our products are commoditized, where do we turn?”
“In the case of Premierwest Bank, we’ve turned to focusing on differentiating our service,” Wells adds. “What new service would prove to set us further apart, to bring something to our customers that was most needed, but mostly unfulfilled?” The answer: a financial education platform.
“Consumers are seeking financial knowledge as they migrate from one life stage to another, or from one stage of their business to another,” notes Wells about the demand for financial education resources. “Where can they turn for consistent trustworthy information, clearly presented?”
“Our website now contains information on hundreds of topics, organized by life stages,” Wells points out with a slight touch of pride. “Customers can search topics online, download comprehensive guides, or easily contact a local bank expert tailored to their geography and their particular questions.”
The Truebridge system incorporates an in-branch solution too. “Our front line staff can now hand off professionally prepared guides that establish our bank, and our team members, as that go-to resource that we feel sets us apart,” says Wells. “We become consumers financial source to learn how to navigate the next stage of their lives. The Financial Answer Center has given our bank a first-of-its-kind positioning in our footprint. It’s a major differentiator for PremierWest, helping us to fill up that tool belt.”